Strs Ohio Has $32.14 Million Stock Position in Corteva, Inc. $CTVA

Strs Ohio increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 29.6% in the second quarter, HoldingsChannel reports. The firm owned 431,251 shares of the company’s stock after purchasing an additional 98,508 shares during the period. Strs Ohio’s holdings in Corteva were worth $32,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Peak Financial Advisors LLC acquired a new stake in Corteva in the 2nd quarter valued at about $505,000. Cary Street Partners Financial LLC increased its position in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after acquiring an additional 15,448 shares in the last quarter. PGGM Investments increased its position in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after acquiring an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after acquiring an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its position in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after acquiring an additional 67,869 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 2.5%

Corteva stock opened at $61.62 on Friday. The company’s 50 day simple moving average is $67.76 and its 200 day simple moving average is $69.25. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $1.83 EPS. Corteva’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and cut their target price for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. The Goldman Sachs Group lowered their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. BMO Capital Markets set a $86.00 price target on shares of Corteva in a research report on Monday, September 15th. Mizuho lowered their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their price target on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.69.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.